CHWY Case Study
This project was developed to simplify the complexity of options market analysis and make it accessible to a wider audience. It uses Gamma Exposure as the core metric to understand how much pressure is building in a stock, whether from call buyers, put sellers, or both.
All data is pulled directly from Thinkorswim in real time with zero delay. The entire analysis was built in Excel using formulas, offering a level of flexibility and transparency often hidden behind paid platforms that charge up to one hundred dollars monthly for similar tools.
To illustrate this approach, CHWY was selected as the case study — not just for its options activity, but because it is a company that, based on deeper analysis, may offer strong long-term value.
This is the main view of the project. It shows the current stock price, net gamma exposure, calls gamma, and puts gamma. These values help indicate how much directional pressure exists on the stock price.
The first chart, Net Exposure by Strike, shows where options traders are most concentrated based on strike price. The second chart, Net Gamma by Expiration, shows which option expiration dates are driving the most market sensitivity. These visuals help identify zones where the price is likely to remain stable or where volatility may spike due to option positioning.
This structured table organizes call and put data by strike. It includes volume, open interest, and gamma contribution for each strike level. This view helps highlight imbalance between calls and puts, and potential breakout zones where price momentum may accelerate.
This section shows the raw options data as exported directly from Thinkorswim. The dashboard processes this unfiltered data through Excel formulas into the visuals and summaries used above — with zero manual intervention after the initial setup.
Data and Financial Modeling
- Market research using real-time data feeds from Thinkorswim
- Gamma Exposure modeling for options strategy evaluation
- Strike-level and expiration-level net exposure analysis
- Scenario building to support long- and short-term decisions
- Excel-based financial dashboards with automated formulas
Business Intelligence and Communication
- Clear data storytelling through dashboard visualization
- Simplification of complex financial concepts for broader audiences
- Integration of technical and fundamental research
- Report structuring tailored for recruiters and junior investors
- End-to-end project ownership from raw data to insights
Educational Value
A lot of people tend to stay away from things like Gamma Exposure because it sounds too technical or overwhelming. But once you break it down, it actually becomes a really useful tool.
With this project, the goal was to take something that usually only advanced traders talk about and turn it into something that anyone can understand without losing the depth for those who do know the market.
If you are just getting started, this helps you understand how pressure builds around certain price points. If you have been trading for a while, it gives you a visual way to time entries or exits. If you are in finance or recruiting, it shows how data, markets, and communication come together in a real-world project.